Tearsheet

LeMaitre Vascular (LMAT)


Market Price (12/4/2025): $84.79 | Market Cap: $1.9 Bil
Sector: Health Care | Industry: Health Care Equipment

LeMaitre Vascular (LMAT)


Market Price (12/4/2025): $84.79
Market Cap: $1.9 Bil
Sector: Health Care
Industry: Health Care Equipment

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%
Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 27x, P/EPrice/Earnings or Price/(Net Income) is 37x
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
 
2 Low stock price volatility
Vol 12M is 34%
 
3 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease. Themes include Geriatric Care, and Diabetes Management.
 
0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
2 Low stock price volatility
Vol 12M is 34%
3 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease. Themes include Geriatric Care, and Diabetes Management.
4 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 27x, P/EPrice/Earnings or Price/(Net Income) is 37x

Valuation, Metrics & Events

LMAT Stock


Why The Stock Moved


Qualitative Assessment

AI Generated Analysis | Feedback

LeMaitre Vascular (LMAT) experienced a stock movement of -10.7% during the approximate period from August 31, 2025, to December 4, 2025, primarily due to the following key factors:

1. LeMaitre Vascular Missed Q3 2025 Revenue Expectations: On November 6, 2025, LeMaitre Vascular reported its third-quarter 2025 financial results. While the company surpassed earnings per share (EPS) estimates, it failed to meet revenue expectations, reporting $61.05 million in revenue against a consensus estimate of $62.18 million. Missing revenue targets can often lead to a negative reaction in stock price.

2. Q4 2025 Revenue Guidance Fell Below Consensus: Following its Q3 2025 earnings report, on November 7, 2025, LeMaitre Vascular provided its guidance for the fourth quarter of 2025. Although the company's EPS guidance was above the analyst consensus, its revenue guidance of $61.8 million to $63.8 million was slightly lower than the $64.3 million consensus estimate. This mixed outlook, particularly the softer revenue forecast, likely contributed to investor concern.

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Stock Movement Drivers

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
LMAT Return14%25%-7%25%64%-8%147%
Peers Return38%32%-15%2%16%1%86%
S&P 500 Return16%27%-19%24%23%16%112%

Monthly Win Rates [3]
LMAT Win Rate58%50%42%67%67%40% 
Peers Win Rate54%67%46%58%60%48% 
S&P 500 Win Rate58%75%42%67%75%70% 

Max Drawdowns [4]
LMAT Max Drawdown-41%-1%-22%-3%-5%-15% 
Peers Max Drawdown-25%-11%-45%-25%-22%-14% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: EW, MASI, UFPT, ATRC, DAVI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique KeyEventLMATS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-38.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven62.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven360 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-45.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven82.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven239 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-46.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven86.4%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven701 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-75.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven311.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1770 days1480 days

Compare to EW, MASI, UFPT, ATRC, DAVI


In The Past

LeMaitre Vascular's stock fell -38.3% during the 2022 Inflation Shock from a high on 6/25/2021. A -38.3% loss requires a 62.2% gain to breakeven.

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About LeMaitre Vascular (LMAT)

Better Bets than LeMaitre Vascular (LMAT)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to LMAT. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CRL_11142025_Dip_Buyer_FCFYield11142025CRLCharles River Laboratories InternationalDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.1%4.1%-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE11142025GDRXGoodRxDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-9.8%-9.8%-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025ASTHAstrana HealthDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
6.0%6.0%-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025SGRYSurgery PartnersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
9.7%9.7%-1.4%
TFX_11072025_Dip_Buyer_FCFYield11072025TFXTeleflexDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
6.2%6.2%-5.1%
LMAT_7312021_Quality_Momentum_RoomToRun_10%07312021LMATLeMaitre VascularQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
-24.4%-6.7%-27.8%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CRL_11142025_Dip_Buyer_FCFYield11142025CRLCharles River Laboratories InternationalDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.1%4.1%-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE11142025GDRXGoodRxDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-9.8%-9.8%-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025ASTHAstrana HealthDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
6.0%6.0%-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025SGRYSurgery PartnersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
9.7%9.7%-1.4%
TFX_11072025_Dip_Buyer_FCFYield11072025TFXTeleflexDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
6.2%6.2%-5.1%
LMAT_7312021_Quality_Momentum_RoomToRun_10%07312021LMATLeMaitre VascularQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
-24.4%-6.7%-27.8%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for LeMaitre Vascular

Peers to compare with:

Financials

LMATEWMASIUFPTATRCDAVIMedian
NameLeMaitre.Edwards .Masimo UFP Tech.AtriCure Davion H. 
Mkt Price84.9283.98138.09219.6636.31-84.92
Mkt Cap1.949.17.51.71.7-1.9
Rev LTM2415,8842,182598518-598
Op Inc LTM621,61913395-26-95
FCF LTM668001688716-87
FCF 3Y Avg416889356-9-56
CFO LTM731,0172089943-99
CFO 3Y Avg489551476718-67

Growth & Margins

LMATEWMASIUFPTATRCDAVIMedian
NameLeMaitre.Edwards .Masimo UFP Tech.AtriCure Davion H. 
Rev Chg LTM13.1%10.6%38.5%29.5%15.8%-15.8%
Rev Chg 3Y Avg14.6%4.4%11.4%23.4%18.0%-14.6%
Rev Chg Q11.4%14.7%8.2%6.5%15.8%-11.4%
QoQ Delta Rev Chg LTM2.7%3.5%1.3%1.6%3.7%-2.7%
Op Mgn LTM25.7%27.5%6.1%16.0%-5.1%-16.0%
Op Mgn 3Y Avg22.4%28.9%8.9%15.8%-6.2%-15.8%
QoQ Delta Op Mgn LTM2.4%-0.4%2.0%-0.6%1.7%-1.7%
CFO/Rev LTM30.4%17.3%9.5%16.6%8.3%-16.6%
CFO/Rev 3Y Avg21.8%18.7%8.1%13.5%3.6%-13.5%
FCF/Rev LTM27.5%13.6%7.7%14.6%3.1%-13.6%
FCF/Rev 3Y Avg18.5%13.4%5.3%11.2%-2.8%-11.2%

Valuation

LMATEWMASIUFPTATRCDAVIMedian
NameLeMaitre.Edwards .Masimo UFP Tech.AtriCure Davion H. 
Mkt Cap1.949.17.51.71.7-1.9
P/S8.27.73.72.63.3-3.7
P/EBIT27.226.6-46.716.5-76.8-16.5
P/E37.233.3-14.022.9-58.7-22.9
P/CFO27.144.738.315.539.2-38.3
Total Yield3.6%3.0%-7.1%4.4%-1.7%-3.0%
Dividend Yield0.9%0.0%0.0%0.0%0.0%-0.0%
FCF Yield 3Y Avg2.3%1.6%1.1%3.5%-0.4%-1.6%
D/E0.10.00.10.10.0-0.1
Net D/E-0.1-0.10.00.1-0.0--0.0

Returns

LMATEWMASIUFPTATRCDAVIMedian
NameLeMaitre.Edwards .Masimo UFP Tech.AtriCure Davion H. 
1M Rtn-2.1%1.1%-4.7%10.4%6.7%-1.1%
3M Rtn-10.0%3.4%1.0%7.9%4.4%-3.4%
6M Rtn3.3%7.9%-15.3%-8.5%4.0%-3.3%
12M Rtn-18.4%19.6%-20.7%-26.6%0.5%--18.4%
3Y Rtn85.0%9.7%-5.1%79.7%-20.3%-9.7%
1M Excs Rtn-2.0%1.1%-4.7%10.4%6.7%-1.1%
3M Excs Rtn-17.7%-1.6%-8.8%-0.2%-3.5%--3.5%
6M Excs Rtn-11.4%-6.8%-30.0%-23.2%-10.7%--11.4%
12M Excs Rtn-33.4%4.2%-33.5%-45.5%-13.1%--33.4%
3Y Excs Rtn22.7%-62.0%-75.5%15.5%-90.0%--62.0%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Development, manufacturing, and marketing of medical devices and implants, as well as the processing193    
Single segment 162154129117
Total193162154129117


Price Behavior

Short Interest

Short Interest: As Of Date11142025
Short Interest: Shares Quantity1,175,225
Short Interest: % Change Since 10312025-3.4%
Average Daily Volume182,699
Days-to-Cover Short Interest6.43
Basic Shares Quantity22,660,000
Short % of Basic Shares5.2%

SEC Filings

Expand for More

Report DateFiling DateFiling
93020251107202510-Q 9/30/2025
6302025806202510-Q 6/30/2025
3312025508202510-Q 3/31/2025
12312024228202510-K 12/31/2024
93020241108202410-Q 9/30/2024
6302024808202410-Q 6/30/2024
3312024510202410-Q 3/31/2024
12312023229202410-K 12/31/2023
93020231107202310-Q 9/30/2023
6302023808202310-Q 6/30/2023
3312023509202310-Q 3/31/2023
12312022301202310-K 12/31/2022
93020221108202210-Q 9/30/2022
6302022805202210-Q 6/30/2022
3312022510202210-Q 3/31/2022
12312021228202210-K 12/31/2021